Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Featured on Master Investor:
Https://masterinvestor.co.uk/equities/small-cap-catch-up-bms-ztf-cury-and-more/
"Braemar (LON:BMS) – Looking Totally Undervalued
Yesterday morning’s Trading Update for the year to end February 2024 declared that the shipping services group had achieved a strong year in line with market expectations.
Revenue is expected to be not less than £150m (£153m) with underlying operating profit of not less than £18m (£20m).
That really was quite a year that its management must surely hope was now well out of the way.
The £73m capitalised group kept a positive cash position with net cash at 29th February 2024 of £1m (£7m), which was a decrease from the prior year after the cost of the internal independent investigation conducted and concluded last year, certain tax payments and share buy backs during the period.
As for this new year the company has informed investors that its total forward order book is some 47% up at $83m, which is a good advance from the $65.6m book as at end October last year.
With its finals due to be announced in May it is worth reminding readers that analyst Ian McInally at Cavendish Capital Markets has previously estimated that the current year revenues could rise to £154.4m, with adjusted EBIT of £18.2m, worth 36.5p in earnings and enabling a 14.9p dividend per share.
Come the May figures we could well see upgrades helping to pinpoint just how undervalued this group’s shares are at last night’s closing price of 256p.
I still find it hard to understand why these shares are so lowly valued, they are destined to rise above the 300p level fairly soon."
Edison have a new note out - they have a 500p price target.
They forecast 45.4p EPS for the year just finished, with 46.4p EPS this year.
That's backed up with a 13p dividend, rising to 14p this year:
Https://d3s3shtvds09gm.cloudfront.net/c06876e7564a986049fdc15f35be0f12.pdf
"Outlook encouraging with c 100% valuation upside
The outlook is encouraging, evidenced by the underlying global trade situation (the
IMF raised global GDP growth estimates by 0.2% to 3.1% in February) and the forward order book, which was up 47% to US$83m, driven primarily by activity in the Sale and Purchase division. FY24 results are expected to be released by the end of May.
We have maintained our estimates for FY24 and FY25 but edged down our FY24 dividend expectations from 13.5p to 13.0p, which implies a modest reduction in our previous valuation of 520p to 500p per share, based on our dividend discount model"
Today's nicely in line year end update suggests the recent drop has made BMS excellent value.
We can expect EPS of somewhere between Cavendish's 38p EPS and Edison's 45.4p EPS.
Accompanied by a 13p dividend, lifted by 8%.
Most importantly, the order book is up a whopping 47% to $83m, suggesting that the current year is looking very good.
Maybe this week?
Based on prior years
Https://masterinvestor.co.uk/equities/alumasc-shearwater-and-more-all-on-the-move/?mc_cid=0e7846951e&mc_eid=db9f9bbaf2
"Braemar (LON:BMS) – Competitor Buying Into The Equity
With the re-routing of trade routes around the Cape of Good Hope, the global shipping market is now reacting to container freight rates rising for the last six weeks in a row, getting back up to the higher levels of October 2022.
It was quite a beneficial share price move on Monday, following the revelation that an ambitious Geneva-based shipbroking company has been putting together a ‘major shareholding’ in the group’s equity.
The new holding notification to the market states that Lightship SA has bought some 1m shares representing 3.04%.
That is said to be good news for players in the shipping sector, including shipbroker Lightship Chartering, which is 51.5% owned by Danish founder and chairman Morten Have.
Sune Fladberg, the private company’s CEO is reported as stating that:
“It’s quite simple, we believe strongly in shipping in the near future and are looking for opportunities to invest further in the industry.
We think the valuation in Braemar is very attractive at the moment.”
I reckon that the Lightship stake was purchased at around the 290p level, so at last night’s close of 300p, it is already showing its holding is well in the ‘swim’.
After hitting 310.60p on Monday morning, further price rises to trade well into, the 300p to 350p range can be expected within the next few months."
Per FT Alphaville the cost of container shipping worldwide is up more than 60 per cent this week, and sailing around Africa is adding 10 days to containerships’ journeys. All this has to be good news for BMS?
Https://www.ft.com/content/0dda1cb4-0400-447e-a260-97d90cbfa41d
And as regards the possible closure of the Suez/Panama Canals:
"A closure of these key thoroughfares would boost container demand by 1.5% and 7% respectively. For tankers and bulkers, the closure of the Suez Canal would add roughly 30% to transit distances and boost fleet demand between 1-2%, according to their estimates. Longer supply lines tie up more vessels, boost freight rates, widen origin-destination spreads, and lift bunker demand. Furthermore, a worsening supply chain may be bullish goods demand as companies over-order to ensure adequate inventories. "
Lightship SA have just declared a 3.04% shareholding in BMS with 1m shares:
Https://uk.advfn.com/stock-market/london/braemar-BMS/share-news/Braemar-PLC-Holdings-in-Company/92934010
What's intriguing is that presumably this is connected to Lightship Chartering, "one of the world's leading bulk carrier brokers":
Https://www.lightshipchartering.com/
A strategic move, something trade or partnership-related, or simply a share in a cheap investment?
In 2020 Lightship lost an entire broking team to BMS:
Https://shippingwatch.com/Services/article12337618.ece
Edison research 45.4p EPS this year absurd 6x pe
https://www.edisongroup.com/research/interims-in-line-growth-strategy-developing/33028/
Up the spout in the Suez. Good for BMS!
Bms should be 400p! Cavendish research 38p earnings forecast this year
newly tipped here too fyi (subscription only):
https://*************.com/views/72003/braemar-a-recovery-buy
"braemar – a recovery buy?...
by hotstockrockets | friday 15 december 2023
shares in company describing itself as “a leading provider of expert investment, chartering and risk management advice to the shipping and energy markets”, braemar (bms) had recovered to above 300p as recently as june this year and reached 340p last year, before in july this year the shares were suspended on an investigation of a historical transaction. they though returned from suspension last month and we suggest now have further recovery potential from a 280p offer price.
etc"
Https://aimcompounders.substack.com/p/braemar-plc-setting-sail-to-sweeter
Braemar CEO, James Gundy, CFO, Grant Foley and COO, Tris Simmonds present results for Full Year 2023 and H1 2024, followed by Q&A.
Watch the video here: https://www.piworld.co.uk/company-videos/braemar-bms-fy23-h1-24-results-presentation-december-23/
Or listen to the podcast here: https://piworld.podbean.com/e/braemar-bms-fy23-h1-24-results-presentation-december-23/
Nice summary on Master Investor overnight:
Https://masterinvestor.co.uk/equities/small-cap-catch-up-maritime-winners-and-luxury-flicks/?mc_cid=c746a43100&mc_eid=db9f9bbaf2
Yes, but, in order for BMS to scale in the timeframe desired, the only route is acquisition. Organic will take too long. They should be raising a bond to to aggressive scale growth. Do they have the current management capability to do that? i'm not sure
I understand you Clarkey but trust me I know this industry. Braemar is 1/4 size of Clarkson btw and Clarkson is not even a third of the global pie
CKN good. But look, the pie is worth X. Clarkson have 60pc the pie, braemar maybe 20pc. Hyperthetical. For braemar to become clarkson as u suggest, they will need to either acquire the other percentages (people or firms, people take time, firms quicker but more expensive) or do it organically, which is really tough to take liquidity from a leading firm.
BMS SHOULD leverage up, issue a bond and buy up the market - a classic michael spencer move. Will they tho? No. And why? Because the management is rubbish.
So, keep clarkson, keep braemar but understand that for braemar to be clarkson as you suggested (without diversification from its core business) clarkson will have to lose market share to bms - which is highly UNLIKELY
I own clarkson and I have for years so I know how this industry works. CKN has been a great hold. I am one of the few posters on CKN. I really like the prospects of both
To grow organically in this business is incredibly difficult, its not about creating new products that people love, its about trying to steal more of the pie through deepening relationships, you do that by hiring well, or acquisition. They would have to “steal” that market share from clarkson. This is very difficult to do, unless you hire clarkson staff (who incidentally will all have huge non competes)
In my view, acquisition is the only route.
Choose your words carefully on a public forum.. lol.
If breaking the rules of the national futures association isn’t dodgy - for a company that deals in futures, then i don’t know what is.
Again, its compliance oversight which is just horrific, which seemingly seems to be a tradition or habit for these guys.
All Panamax and Transatlantic Supramax rates are soaring recently is good for dry cargo business
Choose your words carefully on a public forum when using words like dodgy... do you know clarkson? this is a relationship industry... this was a minor $140,000 settlement. A different company stonex early this year had a $1m settlement
Something dodgy happening here.
https://www.nfa.futures.org/BasicNet/regulatory-actions-detail-doc.aspx?docid=5133
Ceo bought £29k at 290p in February